Reduce Costs

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Strategic Procurement: Reducing Costs & Improving Value Contribution

Procurement organisations are most noted for reducing costs in their organisations. Cost reduction is hard coded in all areas of focus from procurement strategy to the tactics. It is the key performance indicator by which procurement is traditionally recognised. Strategic procurement teams go beyond cutting price and traditional expectations. Procurement teams understand minimising costs is but one of many key performance indicators tied to value contribution – but it is foundational. Strategic procurement has many performance indicators and strategic procurement leaders also understand there are many ways to reduce costs.

To do this, organisations are finding the need for trusted technology advisors who partner to redefine processes, gain greater insight into supplier data, drive supplier innovation and reduce risk.

BravoSolution has a proven record of global success, helping customers unlock the power of procurement to optimise sourcing initiatives, deliver cost reduction and identify opportunities to collaborate and innovate with suppliers. The BravoAdvantage strategic procurement suite provides end-to-end automation of the complete strategic procurement lifecycle. It integrates supplier lifetime value throughout the entire strategic procurement process to provide organisations with unmatched visibility into their supply base through every phase of the strategic procurement process.

Specifically, BravoAdvantage Sourcing and SourcingPlus are two technology solutions, part of the BravoAdvantage strategic procurement suite, that bring immediate and lasting value to procurement organisations.

In February 2015, Gartner, Inc. released their latest Magic Quadrant for Strategic Sourcing Application Suite. BravoSolution was positioned in the top quadrant as a top procurement technology vendor for the third straight report (2010, 2013 and 2015), and was among the most highly-placed vendors for both its “completeness of vision” and “ability to execute.”

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Learn more about BravoAdvantage and how we can help unlock your organisation’s hidden value and savings throughout the procurement process.

“The name ‘BravoSolution’ is now perceived by the whole business as synonymous with savings. It has become just the way we work. Everything we do in the organisation is ‘BravoSolution-aligned’ and if it isn’t yet, we make sure it will be.”

“We use the BravoSolution Sourcing Suite as the standard tool for all sourcing activity for every project, across the entire programme and across the whole of Crossrail. Like other big projects, Crossrail is on a tight timeline, so keeping it on track and hitting targets is very important. Bravo helped us deliver on key milestones.”

-Paul Darlington, Procurement Manager, Crossrail, UK

“Our standard supplier of 5 years had 2 individuals out of several hundred procurement employees using it. It could not handle more suppliers and more data fields. BravoSolution could, and has proven it. Over six categories, 1.6x – 10x savings have been realized vs. what was expected. We now use them (BravoSolution) exclusively.”

-Patrick J Collins, E-Sourcing & SRM, Kraft-Heinz, North America

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